Sources tell the FOX Business Network that IMG, the media and talent agency run by billionaire Teddy Forstmann, is contemplating a corporate change in light of disclosures that Forstmann last week was operated on for a malignant brain tumor.
Sources tell FOX Business that Forstmann will appoint a president and COO to help him manage the day-to-day affairs of the company in a move that could be announced as early as tomorrow
One likely candidate is IMG’s CFO Mike Dolan. Forstmann is likely to remain as CEO and continue working at the company even as he undergoes treatment for brain cancer.
FOX Business was first to report Forstmann's illness; IMG’s board met today to discuss the matter.
A spokeswoman for IMG declined to comment.